An inflation dampener on US rate expectations

The unemployment rate in the US is now low enough to justify raising rates, but spare capacity in the labour market and low inflation will see the Fed play the waiting game for a while yet.

The US labour market continues to go from strength-to-strength -- posting its ninth consecutive month where employment rose by 200,000. As a result, the unemployment rate dipped to 5.8 per cent and the US economy remains on track for a rate rise next year.

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